Miscellaneous In Commerce - Study Mode
[#261] Which type of asset class includes those assets which have only definite use and become valueless when the yield is over?
Correct Answer
(D) Wasting asset
[#262] Cash Purchases:
Correct Answer
(C) Decreases assets
[#263] Payment received from Debtor:
Correct Answer
(C) Results in no change in the Total Assets
[#264] Accountant should follow the same principles of accounting continuously is as per which accounting convention:
Correct Answer
(C) Convention of consistency
[#265] Cost accounting is applied to:
Correct Answer
(D) Manufacturing and service concern